BBVA Compass Latest Bank Defendant in Patent Infringement Litigation Filed by National Non-Practicing Entity
By Greg Jones
BBVA Compass Bancshares, Inc. and Compass Bank N.A., doing business as BBVA Compass, have become the latest banking targets of Intellectual Ventures II, LLC (“Intellectual Ventures”). In a lawsuit filed in the U.S. District Court for the Northern District of Alabama on June 12, 2013, Intellectual Ventures alleges that the BBVA Compass infringes five of its patents in connection with BBVA Compass’ online banking services. Intellectual Ventures seeks damages for past and continuing infringement of the five patents, pre and post judgment interest, costs, disbursements and attorney fees.
Intellectual Properties filed virtually identical lawsuits against the First Bank of Omaha on May 25, 2013, and against JPMorgan Chase & Co. on June 4, 2013, claiming infringement of the same patents.
The five patents cited in the complaint relate to the alleged methods and functionality used for the bank’s on-line banking services. Intellectual Ventures owns all of the rights, title and interest in the five patents by assignment from third parties.
Intellectual Properties is one of the top-five owners of U.S. patents. Although the company claims that it creates and collaborates in the creation of inventions, and files patent applications for those inventions, its business model appears to focus on buying patents and combining them into a large patent portfolio and licensing them to third parties or filing lawsuits for infringement of patents. The practice of prosecuting patent infringements not used by the plaintiff to produce goods or services is commonly referred to as “patent trolling”. Intellectual Properties has been the center of controversy since 2010 when it filed its first lawsuit and its and has been described as a “patent troll” by the CTO of Hewlett Packard and others. A more euphemistic term used to describe plaintiffs such as Intellectual Ventures is “non-practicing entities.”
This suit against BBVA may portend additional patent infringement cases against other banks in Alabama and elsewhere.
Intellectual Ventures is represented by Nick Gaede, Jr. and Jennifer Hanson of Bainbridge, Mims, Rogers & Smith, LLC in Birmingham. Several attorneys from Feinberg Day Alberti & Thompson LLP in Menlo Park, California are listed of counsel on behalf of the plaintiff and intend to file pro hac vice applications in the Northern District.
The case is Intellectual Ventures II, LLC v. BBVA Compass Bancshares, Inc., and Compass Bank, N.A. d/b/a BBVA Compass, Civil Action No. 2:13-cv-01106 in the United States District Court for the Northern District of Alabama.
Intellectual Properties filed virtually identical lawsuits against the First Bank of Omaha on May 25, 2013, and against JPMorgan Chase & Co. on June 4, 2013, claiming infringement of the same patents.
The five patents cited in the complaint relate to the alleged methods and functionality used for the bank’s on-line banking services. Intellectual Ventures owns all of the rights, title and interest in the five patents by assignment from third parties.
Intellectual Properties is one of the top-five owners of U.S. patents. Although the company claims that it creates and collaborates in the creation of inventions, and files patent applications for those inventions, its business model appears to focus on buying patents and combining them into a large patent portfolio and licensing them to third parties or filing lawsuits for infringement of patents. The practice of prosecuting patent infringements not used by the plaintiff to produce goods or services is commonly referred to as “patent trolling”. Intellectual Properties has been the center of controversy since 2010 when it filed its first lawsuit and its and has been described as a “patent troll” by the CTO of Hewlett Packard and others. A more euphemistic term used to describe plaintiffs such as Intellectual Ventures is “non-practicing entities.”
This suit against BBVA may portend additional patent infringement cases against other banks in Alabama and elsewhere.
Intellectual Ventures is represented by Nick Gaede, Jr. and Jennifer Hanson of Bainbridge, Mims, Rogers & Smith, LLC in Birmingham. Several attorneys from Feinberg Day Alberti & Thompson LLP in Menlo Park, California are listed of counsel on behalf of the plaintiff and intend to file pro hac vice applications in the Northern District.
The case is Intellectual Ventures II, LLC v. BBVA Compass Bancshares, Inc., and Compass Bank, N.A. d/b/a BBVA Compass, Civil Action No. 2:13-cv-01106 in the United States District Court for the Northern District of Alabama.
Labels: Patent Infringement Litigation
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